Boat Prices

[The Baron]

I was very close to buying a nice used 17ft. Bass Tracker in spring 2019, but decided to “play it safe” and save a little more.  COVID pricing then hit in 2020 and used boat prices doubled, or more.?  Decent boats have been selling at more than what guys paid for them 5++ years ago, and hard used older boats have been getting pulled out of back yards and barns to be sold for ridiculous prices.  I’ve seen ads literally saying things like “minor leaks”, carpet and/or seats could “use replacing” (pic shows them heavily torn and split) and “motor ran fine last time it was used…”, of course selling “as is” and at prices higher than what I was looking at for a well cared for boat in 2019.  New boat lots are basically the empty and new outboard motors are pretty much on back order until 2022 with no promises on deliver dates. 

 

I’m finally starting to see the market cooling off up here (I’m in Ontario, Canada), so there may be hope for next year.  What have boat prices been doing in the US?  I’m wondering if shopping State-side might actually be a better place to find a fair deal?  Do you think used boat prices will come back to “normal” in the foreseeable future?

[J Francho]

Same.  Just like real estate, bread, and meat.

[gim]

I think there will be surplus of used boats available in the next year or two.  The covid crowd impulsively bought boats and eventually they will realize that its not worth hanging on to them when they're only being used twice a year.

 

As for the cost, I don't see the price going down on new rigs anytime soon.  Materials have gone up and labor is hard to come by.  Once it goes up and stays there for a while, there's no reason to go back down.

 

Just my theory.

[InfantryMP]

The difference between some of the newer models and the 2021 models are crazy. I mean heated steering wheels and wireless phone charging is not worth the extra cash in my opinion. 

[Junger]

Boat prices will be what the market will support. I traveled almost 1,000 miles to get a boat that was in stock and with discounted price. No chance I get that same boat in my local market for at least 2 years.

[The Baron]

1 hour ago, gimruis said:

I think there will be surplus of used boats available in the next year or two.  The covid crowd impulsively bought boats and eventually they will realize that its not worth hanging on to them when they're only being used twice a year.…

This is my expectation/hope as well.  I’m quite happy with a modest used boat… just don’t want to pay an inflated sum for it.

[Deephaven]

Need to hit the magic 10yr old mark.  Once there the prices stabilize.

[Goldstar225]

IMO prices on used boats will eventually drop, new boats not so much.  As gimruis said above, once the people who aren't dedicated fishermen get tired of paying for and maintaining a boat they no longer use that market will come down.  The only problem is if they overpaid during the spike they'll initially rice it to get as much of their money back as they can until it doesn't sell. The exception being, as always, are those who put themselves in a bind and are trying to unload debt.

 

I don't think prices doubled but the price on my boat, which I bought new 3 1/2 years ago has gone up 30% in the meantime with the same equipment and features.  Glad I bought when I did.

[Boomstick]

I was boat shopping in 2017 and again in 2019 and had you asked me in 2019, I could have told you what was going to happen with boat prices in the upcoming few years. There are several factors at play, and honestly Covid is hardly one of the larger players. Had I financed a boat 100% in 2019 with a poor interest rate, it would have been cheaper than buying one in cash today and I knew that was going to be the case back then as well (it was no secret). I did not like the idea of having that much additional debt however.

[slonezp]

When the market gets flooded with used boats, the prices of all the boats will come down. Right now there is a supply chain issue and social distancing awareness for lack of a better term driving the pricing. When things subside, and they will, prices will level out.  

[bigfishnfreak]

the problem i see is buying a boat from a fisherman or a true boater, is going to be different then buying from the covid impulse boat owner.

the gas will be bad, from the novelty wearing off, batteries not maintained , who knows if any service  was done. but if the price is right.

 

[Cory Doras]

Interesting topic. Not sure if you guys have noticed the price of boats climbing before covid. A 20' fiberglass bass boat with some nice electronics, good TM, and power poles is now bumping the $100k mark. 5 yrs ago, they were $70-75K. Those boats 20yrs ago were....$35-40k?? This is why so many manufacturers are now selling aluminum's at a so called "affordable" price. I went on Lunds website and built a 20' pro v and when I was done it was getting close to $70k. This is another reason the used market is hot....especially good fiberglass bass boats. 

[Cory Doras]

Something else to think about, What significant changes have been made to fiberglass bass boats in the past 20-25yrs? Basically nothing. Just some updates panels or colors.  The only real advancements that were made were in motors, electronics, and trolling motors. 

Every now and again, some manufactures hit a grand slam with one of their models. Those are the boats you want to buy because they will always be worth good money. Ive owned 14 boats in my lifetime and I never lost money on any of them. Only 2 of them were purchased new. Do your homework on which ones are great hulls and grab them while you can because they will only go up in value. 

 

[The Baron]

I’ve certainly never thought of a boat as an investment, but you’re right they do seem to have kept marching up in value the last few years.

[slonezp]

3 hours ago, Cory Doras said:

Something else to think about, What significant changes have been made to fiberglass bass boats in the past 20-25yrs? Basically nothing. Just some updates panels or colors.  The only real advancements that were made were in motors, electronics, and trolling motors. 

Every now and again, some manufactures hit a grand slam with one of their models. Those are the boats you want to buy because they will always be worth good money. Ive owned 14 boats in my lifetime and I never lost money on any of them. Only 2 of them were purchased new. Do your homework on which ones are great hulls and grab them while you can because they will only go up in value. 

 

The huge jump in "upgrades" has been in the motors. Whether that justifies the price increases, I don't know. No more 2 strokes are being manufactured. We have motors with a lot of technology and on the higher hp motors super chargers. Electronic throttles, auto pilots, electronic joystick steering, dock assist, and all sorts of other stuff. The technology is still built into these motors even though it's not utilized on bass boats.

 

It's also real easy to put 15-20 grand in electronics, trolling motors, and shallow water anchors into a boat build